Changes in currency exchange rates: the price of the dollar and euro has decreased, while the soum has strengthened its position

The Central Bank of the Republic of Uzbekistan announced the official exchange rates of foreign currencies against the national currency for May 19. According to the newly announced rates, after several days of growth, the price of the dollar and euro began to decline, and the position of the soum slightly strengthened.

According to the Central Bank, the US dollar in this trading session decreased by 48.24 soums from the previous figure, amounting to 12,917.10 soums. At the same time, the euro rate also decreased significantly, dropping by 64.38 soums to 14,460.69 soums.

The Russian ruble also lost value against the Uzbek soum. Its value fell by 1.20 soums, amounting to 160.14 soums.

It should be noted that earlier the dollar rate had reached 12,965.34 soums after several days of increase. However, this growth did not last long, and a decline began to be observed from today.

Currently, the currency exchange branches of commercial banks in Uzbekistan are buying one US dollar from the public for 12,855 — 12,960 soums, while the selling rate has formed around 12,965 – 13,030 soums.

These changes have occurred in connection with the balance of supply and demand in the domestic currency market, as well as the situation in the global financial markets. Economists believe that significant changes in exchange rates are not expected in the near future, but small fluctuations in the market may continue.

The Zamin.uz editorial team continues to closely monitor changes in the currency market and keep its readers informed with the latest information. Do you think the dollar rate will continue to decline in the coming days or will it return to an upward trend?